Performance shows investor appetite for initial public offerings of promising yet loss-making companies could be returning. : NEW YORK - Social media platform Reddit’s shares ended their first day of trading in New York up 48 per cent, signalling that investor appetite for initial public offerings of promising yet loss-making companies could be returning. Reddit, which has not turned an annual profit since launching in 2005, lured investors by positioning its content as training grounds for artificial intelligence (AI) programs.